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In a condominium, the grounds, and sometimes some structures, are jointly owned and usually run by a condominium association. But the individual units, buildings or apartments, are owned by their residents.

In the US most condominiums are attached -- either townhouse or apartment style.

ConsiderationsEdit

  • Condominiums are often cheaper than similar size individually owned homes.
  • Condominiums tend to take care of much of the property maintenance for the owners.
  • Condominiums usually have more rules, especially about the external appearance, than neighborhood associations or town bylaws.

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